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Email this5:54 pm
September 7, 2018
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The Russian economy is smaller than the State of Florida's economy - so it will be interesting to see if your predictions re hacking and too many rubles would throw our economy into free fall/recession - I doubt it. But if that did happen, the BoC would quickly drop its rate and GIC rates would head south. Perhaps you should buy the 3.15% GIC quickly if you are concerned about Putin, hacking, and our banks having too many rubles.
7:16 pm
October 21, 2013
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Well, of course, I too hope it doesn't happen. But, if it does, I doubt it would help if i bought these GICs, so I might as well wait a bit and hope.
In any event, I would go with the 3.36% at the smaller banks offered by the deposit brokers for non-registered.
Of course, Putin is only one threat...
8:24 pm
April 6, 2013
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Loonie said
…Normally companies go to the bank shareholders, or the government to ask for money, but they ARE the bank, so they have to raise it themselves somehow or get it from the government. Why wouldn't they just issue more shares? I imagine they would be popular, and it doesn't cost them anything as far as I can make out. But again, this is something I know nothing about.
…
Bank of Montreal did just that today. Priced at $149/share. About 3% below today's close of $153.72: Bank of Montreal Announces $2.70 Billion Public Offering of Common Shares
Scotia iTRADE sent out the e-mail around 5 pm. I checked and all the shares have been spoken for. About $3 billion raised in less than a day!
8:59 pm
March 15, 2019
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"Scotia iTRADE sent out the e-mail around 5 pm. I checked and all the shares have been spoken for."
Usually the brokers offer the shares to their high value clients first. The BMO shares were probably over subscribed. Guys like me only get the leftovers, lol.
Wouldn't be surprised if CIBC also come to market.
9:49 pm
October 21, 2013
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Son of a gun!
I wish all my predictions were that accurate! I'd be joining the super-rich!
4:19 am
September 7, 2018
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COIN said
"Scotia iTRADE sent out the e-mail around 5 pm. I checked and all the shares have been spoken for."Usually the brokers offer the shares to their high value clients first. The BMO shares were probably over subscribed. Guys like me only get the leftovers, lol.
Wouldn't be surprised if CIBC also come to market.
I also received the email re the new issue of BMO shares @ $149 a share (with no commission payable). Annual dividend of $5.32 (payable quarterly) which is a 3.57% yield. No doubt BMO will increase its dividend. BMO is a good holding for a conservative investor. Bank shares always sell out quickly. You won't get "super rich" but over the long term you will do well with the steady dividend, the tax credit and potential capital gains.
5:05 am
April 6, 2013
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The press release came out yesterday around 5 pm, after the markets closed. The Bank of Montreal shares will likely dip today when they open on the TSX.
If one wishes, one can enter a buy order at $149 on the TSX and get some shares off the market if the price dips to $149. I remember CIBC did a share issue years ago. The CIBC shares did dip and traded at the offer price over the TSX the next day.
One could get super rich over time. The Bank of Montreal shares I bought decades ago have a post split cost of around $7/share. From $7 to $149 is 21.2X of cost. Dividend is now $5.32 / $7 = 76% per year of cost!
6:35 am
April 6, 2013
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The Bank of Montreal shares opened this morning at $149.10. So, far they have changed hands at $149.00 to $149.60.
Small premium for not being on a broker's high value client list.
7:20 am
March 30, 2017
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Norman1 said
The press release came out yesterday around 5 pm, after the markets closed. The Bank of Montreal shares will likely dip today when they open on the TSX.If one wishes, one can enter a buy order at $149 on the TSX and get some shares off the market if the price dips to $149. I remember CIBC did a share issue years ago. The CIBC shares did dip and traded at the offer price over the TSX the next day.
One could get super rich over time. The Bank of Montreal shares I bought decades ago have a post split cost of around $7/share. From $7 to $149 is 21.2X of cost. Dividend is now $5.32 / $7 = 76% per year of cost!
$7 !. That must be like 40 years ago or possibly even further back ! Even 2008 crash wont take it that low split or not.
So BMO wont buy back shares any time soon. And with more shares outstanding, the div increase will get "diluted". But yeah one can never be wrong owning Cad bank stocks long term. But at 3.6% yield and all time high, not the best timing in my mind.
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